Total employment in Delaware is projected to increase by 58,100 jobs from 2004 to 2014, an annual growth rate of 1.2 percent. This would represent a slowing of job growth from the previous 10-year period, when 60,970 jobs were added, an annual growth rate of 1.5 percent. This expected slowdown in job growth is consistent with the decrease in population projected by the Delaware Population Consortium. They project the increase in state residents age 16 and over to slow from 17.8 percent during the decade ended in 2004 to 13.7 percent the following ten years.
Health Care and Social Assistance is the industry projected to grow the fastest from 2004 to 2014. Its projected 2.0 percent annual growth is largely due to the expected increase in people over the age of 65. Retail Trade is expected to add the second highest number of jobs, with 6,800 new filled positions anticipated by 2014.
The state's third highest-paying industry, Professional and Technical Services, is projected to have solid average annual growth of 1.4 percent, adding 4,000 jobs by 2014. This industry includes legal services, accounting services, architectural and engineering services, and scientific research, among other sub-sectors.
With a statewide annual average wage of over $72,500 in 2005, it confounds the common perception that service jobs pay low wages. The only two industries expected to show a net loss in jobs are Utilities, discussed above, and Manufacturing. This latter industry is projected to lose 3,200 jobs by 2014, an average decrease of one percent per year. Chemical manufacturing accounts for nearly half of the expected decline; it is projected to fall by 1,400 jobs.
| Labor Market Data |
|
New Castle County-Available
Civilian Labor Force |
275,527 |
| Employment |
267,063 |
| Unemployment |
8,464 |
| Unemployment Rate |
3.1% |
New Castle County and the State of Delaware want to help grow and attract business by keeping taxes low and providing an educated workforce. For the past six years, the Tax Foundation has ranked Delaware third lowest in combined state and local tax burden in the nation, and our unemployment rate has consistently been below the national average.
We also have a talented and highly educated workforce. Delaware ranks first in the nation per capita for science based jobs, and we are second in Ph.D's per capita (reference- BIO Organization, 2007). New Castle County is ideally positioned to meet your needs in the new information and technology-based economy.
|
Employment & Labor Force by Quarterly Average & Average Weekly Wage |
| Total Employment |
282,881 |
| Private Sector |
250,220 |
| Construction |
18,675 |
| Manufacturing |
17,401 |
| Trade, Transportation, & Utilities |
49,016 |
| Information |
5,492 |
| Financial Activities |
32,385 |
| Professional & Business Services |
22,586 |
| Education & Health Services |
36,317 |
| Leisure & Hospitality |
5,209 |
| Other |
9,086 |
| Government |
32,661 |